IOM complements government efforts on improving livelihoods through community financial literacy programmes

Nov 03, 2018

Harare -  IOM, the UN migration agency on the 3 November 2018, in partnership with a local private voluntary organisation (PVO), CareerAid, concluded two week long financial literacy workshops for remittance receiving households in targeted areas of Harare, Chitungwiza and Norton. The project was supported by the Africa Caribbean Pacific - European Union (ACP-EU), Migration Action Programme under the Non-State Actor Initiative.

Building on IOM’s successful past experiences and unique expertise, the project aimed at training 400 community leaders on financial literacy promoted effective engagement between Zimbabwe and its diaspora. This complemented the Government of Zimbabwe’s efforts to promote financial inclusion under its Financial Inclusion Strategy. The initiative which also encouraged the use of formal channels of sending and receiving remittances strengthened the capacity of community members with knowledge on how to effectively use the money they receive from the diaspora.

 “This initiative is critical in promoting financial independence of remittance receivers and can lead to trust by the diaspora to utilise the financial system to send money back home. The diaspora is an important stakeholder in Zimbabwe having contributed USD$698.9 million in foreign exchange. We thank IOM for complementing government efforts through this project.” Commented Mr. Tapiwa Mucheri, Principal Economist in the Zimbabwe Diaspora Directorate in Zimbabwe.

Blessing, a remittance receiver from Warren Park, with relatives in South Africa and the UK appreciated the workshop, “It was a great learning experience, I acquired knowledge on budgeting and starting small businesses with what I receive from my relatives. I look forward to manage my remittances in a better way.” This assertion was supported by Angela from Chitungwiza who has relatives in Australia, “sometimes we receive money from our relatives and misuse it knowing that we will get more in future.  From now on, I will use the knowledge I acquired from the training workshops to improve my life taking advantage of the incentives offered by different money transfer agencies.”

The workshop revealed that remittances can positively contribute to household expenditure on health care and education and have been associated with positive outcomes for family members in these areas. The effective use of remittances will assist Zimbabwe to meet the Sustainable Development Goals (SDGs) three and four.

For more information please contact Varaidzo Mudombi at IOM Zimbabwe – telephone +263242704285 email: vmudombi@iom.int